As a form of internal control, a bank reconciliation is most closely related to which step in the sales/collection process?
A)Second
B)Fourth
C)Fifth
D)Sixth

Question

Quizplus · Accepted Answer

A bank reconciliation is most closely related to the sixth step in the sales/collection process, which involves reconciling the cash account to ensure that the recorded cash balance matches the bank statement, thus verifying the accuracy of cash transactions.

As a Form of Internal Control, a Bank Reconciliation Is